Elon Musk and Peter Navarro fight as Trump's policies continue to tank stock market
Douglas Holtz-Eakin, Former Congressional Budget Office Director and Charlotte Howard, Executive Editor at The Economist join Nicolle Wallace on Deadline White House with reaction to another day of losses on the stock market and what comes next for the American economy, with tariffs set to kick in at midnight.
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Yahoo
29 minutes ago
- Yahoo
YouTube says its ecosystem created 490K jobs and added $55B to the US GDP in 2024
YouTube released a report on Tuesday that shows just how influential the creator economy has become. YouTube says that its creative ecosystem contributed over $55 billion to the U.S. GDP and supported more than 490,000 full-time jobs, according to research by Oxford Economics. When YouTube talks about its creative ecosystem, it's not just talking about creators. This includes anyone who works with YouTube creators (video editors, assistants, publicists), as well as people who work for creator-oriented companies (Patreon, Spotter, Linktree, etc.). But these figures continue to grow, even in a time when venture capitalists are no longer pouring money into the industry like they were about four years ago. In 2022, YouTube and Oxford Economics reported that its creative ecosystem created about 390,000 jobs and contributed over $35 billion to the U.S. GDP, meaning that these 2024 figures jumped by 100,000 jobs and $20 billion. These numbers are so large because YouTube provides the most consistent and lucrative opportunities for creators. Those who qualify for YouTube's Partner Program can earn 55% of revenue earned from ads; even for mid-range creators (not the MrBeasts of the world), that can amount to several thousand dollars a month. While TikTok and YouTube Shorts have tried to monetize their platforms, the industry hasn't figured out a way to reliably distribute ad revenue among short-form creators. As both a fast-growing and often misunderstood sector, creators have been advocating for American institutions, from banks to the government, to better serve their industry. Some creators struggle to qualify for business credit cards or get certain business loans, regardless of their demonstrable financial solvency. These issues have become common enough to draw attention. Just last week, U.S. Representatives Yvette Clark (D-NY) and Beth Van Duyne (R-TX) announced their bipartisan Congressional Creators Caucus to support and recognize the potential of the creator economy. Sign in to access your portfolio
Hamilton Spectator
31 minutes ago
- Hamilton Spectator
Trump's military parade is a US outlier in peacetime but parades and reviews have a long history
Troops marching in lockstep. Patriotic tunes filling the air. The commander in chief looking on at it all. The military parade commemorating the U.S. Army's 250th anniversary and coinciding with President Donald Trump's 79th birthday will be a new spectacle for many Americans. This will not be the first U.S. military parade. However, it is unusual outside of wartime, and Trump's approach stands out compared to his predecessors. The Army had long planned a celebration for its semi-quincentennial on June 14. Trump has wanted to preside over a grand military parade since his first presidency from 2017 to 2021. When he took office a second time, he found the ideal convergence and ratcheted the Pentagon's plans into a full-scale military parade on his birthday. The president, who is expected to speak in Washington as part of the affair, pitches the occasion as a way to celebrate U.S. power and service members' sacrifice. But there are bipartisan concerns about the cost as well as concerns about whether Trump is blurring traditional understandings of what it means to be a civilian commander in chief. Early US troop reviews Ceremonial reviews — troops looking their best and conducting drills for top commanders — trace back through medieval kingdoms to ancient empires of Rome, Persia and China. The pageantry continued in the young U.S. republic: Early presidents held military reviews as part of July 4th independence celebrations. That ended with James K. Polk , who was president from 1845 to 1849. President Andrew Johnson resurrected the tradition in 1865, holding a two-day 'Grand Review of the Armies' five weeks after Abraham Lincoln's assassination . It came after Johnson declared the Civil War over, a show of force meant to salve a war-weary nation — though more fighting and casualties would occur. Infantry, cavalry and artillery units — 145,000 soldiers, and even cattle — traversed Pennsylvania Avenue. Johnson, his Cabinet and top Army officers, including Ulysses S. Grant , Lincoln's last commanding general and the future 18th president, watched from a White House viewing stand. Spanish-American War and World War I: An era of victory parades begins The Spanish-American War was the first major international conflict for a reunited nation since the Civil War. It ended in a U.S. victory that established an American empire: Spain ceded Cuba, Puerto Rico, and Guam, and the U.S. purchased the Philippines for $20 million. Puerto Rico and Guam remain U.S. territories. New York City hosted multiple celebrations of a new global power. In August 1898, a fleet of warships, including the Brooklyn, the Texas, and the Oregon, sailed up the North River, more commonly known today as the Hudson River. American inventor Thomas Edison filmed the floating parade. The following September, New York hosted a naval and street parade to welcome home Rear Adm. George Dewey, who joined President William McKinley in a viewing stand. Many U.S. cities held World War I victory parades a few decades later. But neither Washington nor President Woodrow Wilson were the focal point. In Boston, a million civilians celebrated 20,000 troops in 1919. New York honored 25,000 troops marching in full uniform and combat gear. New York was the parade epicenter again for World War II On June 13, 1942, as U.S. involvement in World War II accelerated, about 30,000 people formed a mobilization parade in New York City. Participants included Army and Navy personnel, American Women's Voluntary Services members, Boy Scouts and military school cadets. Scores of floats rolled, too. One carried a massive bust of President Franklin Roosevelt , who did not attend. Less than four years later, the 82nd Airborne Division and Sherman tanks led a victory parade down Manhattan's Fifth Avenue. Gen. Dwight Eisenhower , the Allied commander during World War II, rode in a victory parade in Washington, D.C. In 1952, Eisenhower would join Grant and George Washington as top wartime commanders elevated to the presidency following their military achievements. Other World War II generals were honored in other homecoming parades. A long parade gap, despite multiple wars The U.S. did not hold national or major city parades after wars in Korea and Vietnam. Both ended without clear victory; Vietnam, especially, sparked bitter societal division, enough so that President Gerald Ford opted against a strong military presence in 1976 bicentennial celebrations, held a year after the fall of Saigon. Washington finally hosted a victory parade in 1991 after the first Persian Gulf War. The Constitution Avenue lineup included 8,000 troops, tanks, Patriot missiles and representatives of the international coalition, led by the U.S., that quickly drove an invading Iraq out of Kuwait. The commander in chief, George H.W. Bush , is the last U.S. president to have held an active-duty military post. He had been a World War II combat pilot who survived his plane being shot down over the Pacific Ocean. Veterans of the second Iraq and Afghanistan wars that followed the Sept. 11, 2001 attacks have not been honored in national parades. Inaugurations and a flight suit Inaugural parades include and sometimes feature military elements. Eisenhower's 1953 inaugural parade, at the outset of the Cold War, included 22,000 service members and an atomic cannon. Eight years later, President John F. Kennedy , a World War II Naval officer, watched armored tanks, Army and Navy personnel, dozens of missiles and Navy boats pass in front of his reviewing stand. More recent inaugurations have included honor guards, academy cadets, military bands and other personnel but not large combat assets. Notably, U.S. presidents, even when leading or attending military events, wear civilian attire rather than military garb, a standard set by Washington, who also eschewed being called 'General Washington' in favor of 'Mr. President.' Perhaps the lone exception came in 2003, when President George W. Bush , who had been a National Guard pilot, wore a flight suit when he landed on the USS Abraham Lincoln and declared the end of major combat operations in Iraq, which U.S. forces had invaded six weeks earlier. The aircraft carrier was not a parade venue but the president emerged to raucous cheers from uniformed service members. He put on a business suit to deliver a nationally televised speech in front a 'Mission Accomplished' banner. As the war dragged on to a less decisive outcome, that scene and its enduring images would become a political liability for the president. ___ Barrow reported from Atlanta. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
Hamilton Spectator
31 minutes ago
- Hamilton Spectator
Court hearing set on Trump's use of National Guard and Marines to help with immigration raids in LA
SAN FRANCISCO (AP) — A federal court hearing is scheduled for Thursday on whether the Trump administration can use the National Guard and Marines to assist with immigration raids in Los Angeles. California Gov. Newsom has depicted the federal military intervention in the nation's second largest city as the onset of a much broader effort by Trump to overturn political and cultural norms at the heart of the nation's democracy. Los Angeles Mayor Karen Bass has echoed that, saying the deployment of troops was unnecessary and meant to undermine local jurisdictions and intimidate the city's large immigrant population. Newsom filed an emergency motion requesting the court's intervention after President Donald Trump ordered the deployment of roughly 4,000 National Guard members and 700 Marines to Los Angeles following protests over his stepped-up enforcement of immigration laws. The Trump administration called the lawsuit a 'crass political stunt endangering American lives' in its official response on Wednesday. The Democratic governor argued the troops were originally deployed to protect federal buildings and said sending troops to help support immigration raids would only promote civil unrest. The protests over immigration raids in Los Angeles intensified after Trump called up the National Guard and have since spread to other cities, including Boston, Chicago and Seattle. Federal immigration agents have been arresting people at Home Depot parking lots and other businesses, sparking fear in immigrant communities, after the Trump administration said it wanted to dramatically increase arrests under its immigration crackdown. Trump has described Los Angeles in dire terms that Bass and Newsom say are nowhere close to the truth . Most demonstrations have been peaceful but this weekend some turned raucous with protesters setting cars on fire in downtown Los Angeles. The city has imposed a nightly curfew covering a 1-square-mile (2.5-square-kilometer) section where protests have occurred in the sprawling metropolis of 4 million people. The Marines have not yet been spotted in Los Angeles and Guard troops have had limited engagement with protesters. Newsom filed the motion Tuesday, the same day the military announced some members of the National Guard were now standing in protection around federal agents. The change moves troops closer to engaging in law enforcement actions like deportations as Trump has promised as part of his administration's immigration crackdown . The Guard has the authority to temporarily detain people who attack officers but any arrests ultimately would be made by law enforcement. Senior U.S. District Judge Charles R. Breyer chose not to rule immediately but set the hearing for Thursday in federal court in San Francisco. Dozens of mayors from across the Los Angeles region banded together Wednesday to demand the raids stop and the troops leave. Error! Sorry, there was an error processing your request. There was a problem with the recaptcha. Please try again. You may unsubscribe at any time. By signing up, you agree to our terms of use and privacy policy . This site is protected by reCAPTCHA and the Google privacy policy and terms of service apply. Want more of the latest from us? Sign up for more at our newsletter page .
